For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Computer Programs and Systems (CPSI) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Computer Programs and Systems is one of 1182 companies in the Medical group. The Medical group currently sits at #9 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Computer Programs and Systems is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CPSI's full-year earnings has moved 4.4% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CPSI has returned about 11.8% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of -11.7% on a year-to-date basis. As we can see, Computer Programs and Systems is performing better than its sector in the calendar year.
One other Medical stock that has outperformed the sector so far this year is Evolus, Inc. (EOLS). The stock is up 95.5% year-to-date.
In Evolus, Inc.'s case, the consensus EPS estimate for the current year increased 15.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Computer Programs and Systems belongs to the Medical Info Systems industry, a group that includes 49 individual stocks and currently sits at #166 in the Zacks Industry Rank. On average, this group has lost an average of 28.8% so far this year, meaning that CPSI is performing better in terms of year-to-date returns.
Evolus, Inc. however, belongs to the Medical - Products industry. Currently, this 95-stock industry is ranked #196. The industry has moved -18.8% so far this year.
Investors interested in the Medical sector may want to keep a close eye on Computer Programs and Systems and Evolus, Inc. as they attempt to continue their solid performance.
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